Mumbai, Oct 16 (IANS) Tech-driven gig marketplace Urban Company on Friday reported a wider net loss for the quarter ended September 2026 (Q2 FY27), even as the company posted strong growth in revenue.
The company’s net loss widened to Rs 182 crore in the second quarter, compared with a loss of Rs 59 crore in the corresponding period a year ago (Q2 FY26), according to its stock exchange filing.
Revenue, however, rose 41.3 per cent year-on-year to Rs 537 crore from Rs 380 crore, it added in its filing.
At the operating level, Urban Company’s performance remained under pressure. Its EBITDA loss widened to Rs 188 crore during the quarter from a loss of Rs 68.7 crore in the year-ago period.
The company also announced plans to raise Rs 2,500 crore through a mix of equity, debt and other instruments to support its growth initiatives and business expansion.
Urban Company’s total expenses increased 61 per cent year-on-year to Rs 745.7 crore in the September quarter, compared with Rs 462 crore in the corresponding period last financial year.
On a sequential basis, expenses rose from Rs 639.9 crore in the preceding quarter.
Following the earnings announcement, Urban Company shares gained 2.11 per cent to Rs 157.50 apiece on the BSE on Friday.
Urban Company operates a technology-driven platform that connects consumers with trained service professionals across a range of home and personal care categories, making it one of India’s leading gig marketplace companies.
Commenting on the financial performance, the firm said that the quarter was a strong quarter as the company’s core business combined continued growth.
“Q2 FY27 was a strong quarter. The Company’s core business combined continued growth momentum with margin expansion, while it invested aggressively in InstaHelp, where unit economics improved even as the business scaled rapidly,” it said.
–IANS
pk
